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 My Dad's Credit Card Debt

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poweredbydiscuz
post Dec 21 2023, 01:09 PM

 
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If the house is in your father's name, you must sell it to pay the debt.

It not about moral, it's the law.
poweredbydiscuz
post Dec 21 2023, 02:08 PM

 
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Please stop pointing finger at TS for bring up religion matter. It is important in the context of inheritance as the estate administration and distribution law is different between muslim vs non muslim.
poweredbydiscuz
post Apr 3 2025, 01:09 PM

 
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QUOTE(GTA5 @ Apr 3 2025, 01:04 PM)
But how does bank recover it's losses?

Is it possible that a person just Yolo and take up as much cc card debt as possible, then just gg, knowing that the debt will not be passed on?

Just wondering
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The bank can go after and claim from his estate. If it's not enough, then have to write off.
poweredbydiscuz
post Apr 3 2025, 02:14 PM

 
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QUOTE(youngblood29us @ Apr 3 2025, 01:53 PM)
Correct me if I’m wrong..this is absolute bs..CC is unsecured lending
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You have a misunderstanding about unsecured debt. While it's a debt without collateral, the creditor can still go after the deceased's estate.

Even if someone lent RM1k personally to the deceased, he too can go after the estate if he has proof.

This post has been edited by poweredbydiscuz: Apr 3 2025, 02:35 PM
poweredbydiscuz
post Apr 3 2025, 02:52 PM

 
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QUOTE(youngblood29us @ Apr 3 2025, 02:43 PM)
What if estate is transferred to spouse much earlier? So I don’t think there’s basis to go after estate

In addition what I’m trying to say is banks cannot get back money from kids or wife..they are not obliged to pay
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The executor/administrator should not transfer the estate to the next-of-kin before settling the debts.

Of course we all know that the bank cannot go after the kids and wife. I'm talking about the deceased's estate.

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